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Eritrea to build 1,680 modern homes and shops in Asmara

Render of some of the apartment buildings to be constructed this year in Asmara

The Housing and Commerce Bank of Eritrea says it will start construction of 1,048 modern apartments, 376 residential houses and 256 buildings for business ventures this year around the Halibet Hospital, Space 2000 and Sembel districts of Asmara.

"Potential buyers are required to meet their national obligations and make 25% deposit of the total price of the house or business," the bank said in its memo released yesterday. "Registration can be done in person at the headquarters of the Housing and Commerce Bank or in the Eritrean Embassies and Consulates in various countries."

The statement also advises nationals who had signed contract agreements or made deposits in the past can still switch into the new project by transferring their deposits to the Housing and Commerce Bank account entitled "Asmara Housing Project 2012 EURO C/A # 124-5."

Source: Housing and Commerce Bank of Eritrea

To view the styles and prices of the apartments, houses and shops, visit here

If you are interested in purchasing a home or a shop, print and fill this out and visit your nearest Eritrean Embassy or Consulate for further instructions.

The following are renders obtained of the projects. Click on the images to enlarge.

Render of 200 sqm modern houses, each featuring 1 living room, 4 bedrooms, 4 bathrooms, and
1 kitchen that will be on sale for €113,006 (US$150,184 ) - Sembel district of Asmara

Villas worth €113,006 (US$150,184 ) to be constructed in the Sembel district of Asmara

Sembel residential and business project

Halibet Housing Project in Asmara

Space 2000 apartment complex project in Asmara

The following is the memo posted by the Housing and Commerce Bank of Eritrea

Potential buyers are required to meet their national obligations and make 25% deposit of the total price of the house or business they select. 376 residential houses and 256 for business ventures would get underway this year around Halibet Hospital, Space and Sembel. The Registration form (FORM-1) to this end has been distributed.

1. Potential buyers are nationals who have fulfilled their national obligations.

2. Following the filling of the above stated Form, buyers are expected to make a 25% deposit of the total price for the chosen type of house at the account in the headquarters of the Housing and Commerce Bank (Bahti-Meskerm Square) entitled "Asmara Housing Project 2012 EURO C/A # 124-5." The remaining portions of the payments are due to be completed within two years and all transactions should be in EURO.

3. All applications are invalid without the aforementioned deposit.

4. Payment of deposits and the following transactions should involve full names of buyers and number of their Eritrean Identification Cards.

5. Registration can be fulfilled in person at the headquarters of the Housing and Commerce Bank or in the Eritrean Embassies and Consulates in various countries, while the relevant for in the Eritrean Embassies and consulates in various countries, while the relevant form can be download from the website www.Erheb.com, get filled and sent to the fax numbers +291-1-120401 or +291-1-127957, or the e-mail address asmarahousing2013@gmail.com Attachment of deposit invoice is an imperative.

6. In dealing with No. 7 of FORM-1, applicants should clearly select an area for the breadth of apartments and houses that range from 30 to 120 sq. meters and 125 to 200 square meters respectively. So as to prioritize choices, applicants out to fill the given 11 boxes in the respective options according to their choices as "1," "2," and "3," and placements would be made on this basis.

7. Entitled buyers or their agents would be notified through their telephone numbers or email addresses.

8. Nationals who had signed contract agreements and made deposits thereof in the past can shift into the new project through transferring their deposits to the above-mentioned Bank account. Such applicants are expected to attach document of money transfer order (Refer No. 6 of FORM-1)

9. Nationals who have already become beneficiaries of land plots could equally avail themselves of this opportunity (Refer No.5 of FORM-1)

10. In case of a need for additional information, reference could be made to the Housing and Commerce Bank: www.erhcb.com

We should ask ourselves why is the government proposing a new housing project when they have been unable to build homes for thousands of loyal Eritreans who have been waiting 13 YEARS.-They took in millions of dollars yet did not fulfill their obligations to build homes.Yet they want build a new project??Eritrean government needs to start honoring contracts they get in to.To me this looks another pathetic attempt to steal money from their own people!!

The fact of the matter is, these modern houses, apartments and shops will be built, period. The economy is booming and the government has lots of money to spend. It does not need peoples' money in advance to build these homes. It has the funds to do so before hand.

Getting to the point, if you have bought land or were promised a house in the past, you will be the first ones to be able to buy homes from this project, no questions asked. If you missed this important paragraph, then here it is:

"The statement also advises nationals who had signed contract agreements or made deposits in the past can still switch into the new project by transferring their deposits to the Housing and Commerce Bank account entitled "Asmara Housing Project 2012 EURO C/A # 124-5."

Now the majority of Eritreans who have bought homes or land did not experience what you have experienced (if you really are Eritrean, that is). But if you paid for something and it was not delivered, then again, you will be the first in line to select any home from this project.

So please stop trying to discourage others by saying the government is stealing when it is not. Numerous western businesses in Eritrea praise the government for its commitment and honesty to keeping its word, stealing is not in their resume, sorry, this is not Ethiopia.

So hurry up and fill out this Form and send it to your nearest Eritrean embassy or Consulate: http://erhcb.com/project2013/pdf/Registration%20Form.pdf

Remember, this project is going to be built regardless if no one even drops a dime into it. So stop trying to discourage others from making investments on homes and fill out your form to get what is due to you, if you truly are Eritrean and not an Ethiopian troll.

Russom,PLEASE HAVE THE GUTS TO CALL A SPADE A SPADE.THIS IS NOTHING MORE THAN A FRAUDULENT INVESTMENT SCHEME DESINGED TO EXTRACT MONEY FROM LOYAL ERITREAN. MUCH LIKE THE LAST SCHEME.

-VICTEMS ARE: EX PATRIOTS LIVING ABROAD

PERPETRATOR: GOVERNMENT OF ERITREA--THEY POCKETED THE MONEY AND HAVE REFUSED TO BUILD THE HOMES OR REFUND THE MONEY--MY FRIEND FRAUD IS FRAUD EVEN IF IT STATE SANCTIONED. SO DON'T SIT THERE AND DECEIVE PEOPLE!!

Mr mekele,indeed ur troll agames,read the statement again,at the end of the day it says for Eritreans only so i don't understand why you sneak your nose. Go tell ur masters if they can help you fabricate lies to stop it.duhul hasad.

I just read some of the features of the homes and apartments and they are definitely looking nice. I'm interested in buying an apartment in Sembel for my cousin, should I just go to the D.C. Embassy to register? Wish they had an online process to save everyone time.

The procedure for buying the appartments/villas is not clear. Let say 5000 people willing to pay the deposit, but there are only 1600 buildings. Tell me on how to distribute the buildings and what will happen with the deposit?Not fair at all. It is prudent if the first assessement is with out deposit. Once confirmed that you are a buyer, deposit can be paid.Second does the amount above include the following:-land owning or property ownership.-water supply and sanitary connection.-Electrical connections-selling the house withoout any conditions.-etcPlease be clear and transparent . Avoid stupid mistakes that can cost buyers more than the initial amount at later stages

I hope this's true. I'm i patroitic eritrean who wishes the best for eritrea and our people. I returned from eritrea for aboute two weeks ago, the situation is steel under control though the electric and water shortage is alarming in asmera. I hope they will fix the short comings soon, so ordinary people dosn't get stressed for what is going to happen in the near future. I was very, very disappointed for the lack of information our government are giving. I'm not asking why eritrea is not greener yet, becouse that needs a dedicated government and people to achieve that, which i think it's just a matter of time to be there. But i have hard time to understand the lack of information coming out from the responsible officials. On one hand we are doing our most to fight the weyane and it's puppets, but on the other hand our officials are so ignorant that asking my self what curse to give the kedAat a chance to mock our people and our government because of some ignorant officials.

The electrical glitches that caused off and on power outages for two weeks has been fixed and is even being expanded as we speak so it can deliver more power in the future. Keep in mind, power outages are very normal in sub Sahara Africa. For example, in Ethiopia, they have been dealing with an off and on power outage for the last 3 months.This is considered normal in Addis Ababa, too. What's unnormal, however, is the government's media presence. It's very backward, even by Africa standards.

No kidding. In Addis Ababa, it's very normal to experience long frequent power outages. In fact, for the last 4 days, Addis Ababa residents have had no access to water or electricity. Yet not a single reporter has commented about this on an article. Had this happened in Asmara, journalists would of had a field day attacking Eritrea and its government. It's like these racist white journalists do not want to report about Ethiopia's massive power and water problems because it will highlight the failures of the tens of thousands of Western NGO's that have turned the country into a giant colony of charity organizations. Eritrea, which rejects NGO's, is attacked because these racist scums want other Africans not to follow in Eritrea's footsteps. The NGO business is very lucrative and powerful. It's similar to Saudi Arabian clerics pressuring Mauritania not to abolish slavery so they can fly over there, pay for the freedoms of a few slaves and hope their imaginary God can let them enter heaven once they die.

Am sorry but i still find a lot of information missing, for instance when are they starting the project and when will it finish and we can receive our houses? I really want to start with the procedures but 100% confirmation and dedication is required for us to actually invest our savings in this project.

You all are ignorant!!! You know nothing and even a donkey Thinks better than you all!!!!. It is shame full what you are talking about. Ethiopia is the leading nation in Africa, The trongest and respected country. It has greate leaders!!!!!!!!!!!! Unlike the rabish old dog in eritrea. Go and worship him and you will see him one day he will be draged on the strees line his master gadafi. ok.

Haha Ethiopia is respected? While 64% it's anual budget is covering by westeners, while 14miilon it's people is in the safe net it means for indefinite it get fed by aid? While 15% it's population has HIV? While only 27% of it population has a clean drink water and 36% electrcity? Still have people walking with no cloth at all like middle age? And all this while meles left in banks of America 3 billion dollar, out leader he didn't even have change his Toyota car...yep Ethiopia is the best lol

Don't expect overnight look your left and right side how many country are having problem in so many thing u should appreciate what u have look back when mengstu time didn't u use for fire your house hold stuff bro. Don't be selfish. Thank God .........

In fact your are just a scumbag. the truth is we love Eritrea and we don't allow anyone to blame/harm our country and we are here to forward the country to future developments, peace and long sustainability. I bet you noticed your fat lie. stay on the topic this is Eritrean website and don't mislead people with your deceptive lies. bragging a comparison with Ethiopia or else shows your weakness and how backward you are!!!